Baxter International Inc. (NYSE:BAX) posted its quarterly earnings data on Wednesday. The medical instruments supplier reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06, Bloomberg Earnings reports. Baxter International had a net margin of 18.09% and a return on equity of 14.03%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the prior year, the business posted $0.46 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. Baxter International updated its Q3 guidance to $0.58-0.60 EPS and its FY17 guidance to $2.34-2.40 EPS.

Shares of Baxter International (NYSE:BAX) traded down 1.74% on Wednesday, reaching $61.01. 613,888 shares of the company were exchanged. The stock has a market capitalization of $33.17 billion, a PE ratio of 18.06 and a beta of 0.66. The firm has a 50 day moving average price of $60.40 and a 200-day moving average price of $54.13. Baxter International has a 12-month low of $43.13 and a 12-month high of $63.08.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be paid a $0.16 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.03%. Baxter International’s dividend payout ratio (DPR) is 19.05%.

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In related news, SVP Brik V. Eyre sold 130,732 shares of Baxter International stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $55.69, for a total transaction of $7,280,465.08. Following the completion of the transaction, the senior vice president now directly owns 49,966 shares of the company’s stock, valued at approximately $2,782,606.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carole J. Shapazian sold 2,618 shares of Baxter International stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total transaction of $151,634.56. Following the transaction, the director now directly owns 9,848 shares of the company’s stock, valued at $570,396.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,110 shares of company stock valued at $7,642,246. Corporate insiders own 0.05% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of BAX. Pure Financial Advisors Inc. boosted its position in shares of Baxter International by 0.3% in the first quarter. Pure Financial Advisors Inc. now owns 7,459 shares of the medical instruments supplier’s stock worth $387,000 after buying an additional 22 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Baxter International by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 2,344 shares of the medical instruments supplier’s stock worth $113,000 after buying an additional 31 shares during the period. Dumont & Blake Investment Advisors LLC boosted its position in shares of Baxter International by 0.3% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 12,786 shares of the medical instruments supplier’s stock worth $663,000 after buying an additional 40 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management boosted its position in shares of Baxter International by 0.3% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 18,079 shares of the medical instruments supplier’s stock worth $938,000 after buying an additional 54 shares during the period. Finally, Reliance Trust Co. of Delaware boosted its position in shares of Baxter International by 1.1% in the first quarter. Reliance Trust Co. of Delaware now owns 5,743 shares of the medical instruments supplier’s stock worth $298,000 after buying an additional 63 shares during the period. 84.13% of the stock is owned by institutional investors.

BAX has been the subject of several recent analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $55.00 target price (up from $52.00) on shares of Baxter International in a research note on Tuesday. Royal Bank Of Canada raised their target price on shares of Baxter International from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Thursday, April 27th. BMO Capital Markets reiterated a “hold” rating and issued a $55.00 target price on shares of Baxter International in a research note on Thursday, April 27th. Zacks Investment Research downgraded shares of Baxter International from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Finally, Cantor Fitzgerald initiated coverage on shares of Baxter International in a research note on Thursday, June 29th. They issued an “overweight” rating and a $70.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $61.77.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.

Earnings History for Baxter International (NYSE:BAX)

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